#29 - Ambition Today Episode Transcript - Adeo Ressi

Ambition Today Episode Transcript

Adeo Ressi - Episode 29

This is ambition today a podcast about entrepreneurs creators investors and builders who ambitiously changed the world at each episode we explore the hardships and heroism of everyday life to reveal the key moments which leave behind a lasting legacy today we are joined by a day resi he's the founder and ceo of the founder institute which is the world's premier launch stage accelerator this is ambition today these are the entrepreneur's screeners investors him builders ambitiously teams to the world explore the hardships and heroin sense of everyday life while he revealed the key moments to leave behind on lasting legacy this is ambitious in today with kevin guy what's up world i am kevin ciscar and you are listening to ambition today makes you subscribe to our website ciscar dacoota makes you never miss the latest ambition today episodes such as the last episode when we talked to andrew wine rich she's the founder at andrews roadmaps and is the chairman at indicative but today i'm really excited we are drink a day or resi he's the founder and ceo of the founded and to a place that is very dear to my own heart he's it is the world's premier launched a stage accelerator a dale welcome to emission today thank you very much andrews.A good friend of mine awesome so where are we to where where are we today palo alto california the founder institute headquarters love it i love coming out here it's it's so different from new york but i wanna start in new york 'cause i know that's where you grew up.Where'd you grew up in new york and what it what was that like i grew up on the upper west side and new york was not as nice back then so people got robbed and things like that was like the '70s and '80s were a hard time these graffiti covered subway cars is a rough for new york even you know what now are some of the nicer areas of new york like soho was scary and then alphabet city was even scarier and you know fastforward to today and these are some of the nicer plays yeah city yeah now for bed cities all brewery isn't it's it's fun hang out on still no subway access a second avenue subway finally opened which was kind of nice okay so you grew up in new york i read a red when you were younger you went to this futuristic city eker seventy what was that experience like and was there anything from that experience that you still kinda carry with you today sure well eight sued to take a step back new york was pretty rough place to grow up i you would regularly get mugged getting fights on the street fights would break out at parties were you would go as a teenager so it was not the easiest place to grow up and then you know you always dreamed of better ways to live better ways to grow up and so that got me interested in architecture and urban design and that's why i went out our cassani to see how some of the different ways of living were being constructed consciously verses organically and arkar sahni is a conscious community designed to foster real better living styles were everyone's building the actual city in contributing to food production and everything else but it was a little too idealistic and has resulted in.Work really well but i love the like the dichotomy there with with new york so i also so after that you you went to the university of pennsylvania in the new biography by ashley vance which some of you may have read there's a story about you and your new college roommate who happened to be ilan musk you guys through some entrepreneurial parties fund your way through college and then famously you went with him on the trip to try and by the ira space x rockets so you know one of the themes this show is uh the steps people take on a path to achieving greatness what's have been linked to be like first hand witness to the rise of iron man and in what it what are some takeaways from that for the audience yeah he lonza great man always has been uh both in terms of his in lacked in his moral compass uh it it you know we were throwing parties in college added draw filled with cash uh from various you know fees that we were collecting rather be do admission accelere and a deal on was the kind of person that if you handed your wallet to uh even back then when we were all poor you could be guaranteed that it would be added back to you with everything into acting every benny every san every dollar uh no worries whatsoever in that really hasn't in change one bed and the many years that i've known him uh and and back then would venting good task as we are all broke.And then the oh sometimes we had cash from from the different events but it would be very tempting to say oh man i'm really hungry i have a day as well but with that said yeah always been trustworthy always been morally guided correctly and it doesn't surprise me at all how successful he's been so youth is some morality plays a pretty deep role in in successive think and keeping the compass straight throughout your your life in your career at that that is a that's a tough question to to answer because uh i can't speak for other people by bno you know when you're creating a company or at least when i'm creating incumbency uh you you're a company is a collection of agreements right and i say okay please worked for me and i will pave so that's essentially in agreement you're gonna give me work in i'm gonna give you money or hey you know i will partner with you you're gonna distribute my private product and i'm going to help you in this way that's another agreement so your word is your bond when you're running a company and that bond is this collection agreements that makes the company happen and so it's very important that you have that underlying honesty in and and it's not necessarily morality you don't necessarily have to have a moral compass but you definitely uh are creating a an entity based on your or word and if people don't trust your or you're not honest didn't yeah and run into problems really fast the ads could leadership uh and and so you've actually built and sold quite a few companies over the years i know predominantly today we talk about finding institute but i just wanted to to bring this up for the say and for the second time a quickly summarize so 1997 america online purchase total new york would you founded in two thousand new sold method five to accede for eighty eight million in two thousand seven usled game trust a real networks you were a board member of the x prize you know what was it like building those companies over the years in an ethics through there you also moved from new york to the valley tell me a little bit about that changes well yes there there's some other companies in there that i founded ran her sold moms smaller um you know while say this uh which probably isn't the wisest.Thing they say publicly but you know i i don't really recommend.And selling your company i've done it a lot i bonds sold 25 plus companies and one hundred percent of the time the company that you have created ins worked very hard to build will somehow parish in an acquisition uh and and i you know the the total new york acquisition it's quite large it was almost a it was seven hundred fifty million approximately it had become a awhile digital cities and it was bought by a awhile it was actually it was called a oil digital cities but it was an actually owned by a well in full so and aol bought it outright you would think okay you have saying called a while digital cities that's gonna processed and it didn't neil maybe lasted a few more years but eventually they sunset had that sub brand and you know even aol itself is now in in trouble so gain you can imagine there was a timer yahoo bought a every company under the sun they were the big require and the valley bye bye bye bye bye fee you were like if i sell the i will be the biggest thing ever and we're all the all those companies are pretty much gone i mean even delicious which was one of the huge brands of its time sold yahu that's basically am i a and yahu itself is in trouble seven it really shows to like that to the point of like how important the role of the founder is in a company and you know longterm not just at the point of exception yeah i mean look so.E e e r one of two plays in the world today right you're going to build something that's going to last or you're gonna build something to sell and uh i would recommend that you know everybody go out there with the goal of building something to last and if you fail in that goal then use sell right and the mistake that i made in in the past is that i had businesses that were really built to last in doing very well and unfortunately that's when everyone comes over in his i hey we want to buy you and then it's really tempting the sell yeah right and if you don't have the experience knowledge or guidance a lot of times what's happening is companies that are being built to last are selling for one reason or another and then than suffering as a result so you know a a great story there is with a good friend of mine tony say and zap owes i don't really believe that tony ever wanted to sell zap owes uh you know he had a board of directors he had an a very aggressive buyer and and beslan on and sold now in the deal he was able to maintain a lot of disaster post culture and lauded disaster bose ethos but it's still amazon here eight and in fact you go and visit zavvos and they'll be like yeah this is an amazon thing and they kind of our like we would never do it that way but amazon makes us do it that way so you know as a founder staying true to yourself and trying to build the last is key so and and i like the you know the lessons that you've taken from that um you've kind of kind of worked to share over the years so after you know all of these companies.Uh i think it was probably the end of the 2000s you started uh something called the funded correct yes and so tom tell me what what was the funded what was the goal and and you really cannot him straight yes so um i had a really terrible series of experience with professional investors so by the age of thirty i had sold about close to two billion dollars worth of companies uh like or create created end or sold dearer taken public's for that matter uh and you know i didn't i actually lobby were like wow you must be so incredibly wealthy now i at that time i was the wealthiest person that i knew that i wasn't like wealthy by a you know any rain real standard by guy was the wealthiest twenty nine year old new a new version saying very much but i you know and that that's another sad fact is that you can build billions of dollars worth of value and you know not be that while these a lot of people will look at like dumb founders that are running unicorns and i can tell you something that uh for the most part the founders that are running unicorns or not flying around on private jets in and you know buying private islands they're probably living fairly modest lifestyles because these these things are not liquid and so i had figured that hey i'm going to deal with investors on unlike one of the more success will be why no it should be fairly easy and it just was not i don't they i mean you can it's easy earlier and in fact we had erin bali built a billion dollar company when back out to raise money and said on stage yesterday or the day before it was.Uber ard and he thought it would be a lot easier and i i had that mentality is wads like hey work i've got for the time nearly two billion dollars in value created by the time i was twenty nine and there's a long time ago and two billion dollars back then he has a lot of money now it seems a lot more common and and and it was super hard and by the by the way the investors didn't treat me with any particularly guy extra respect so they were rude um they were uh devious they were um dishonest they were i i mean mean i can keep going into the abuses were rampant and then i would go to my friends in i'd be like you're pretty successful what's happening with you and i odds horrible and like everyone i would say how terrible their experiences were dealing with investors so finally i was like someone asked to do something about this and i published out as the funded yeah and i published an anonymous platforms of me and my friends kid surface all the bad behavior and isolate the worst um you know parties propagating that bad behaviour to avoid them basically this is basically like a like a yelp for investors right v sees out a kind of accept you know anyone can walk off the street and writer review of a restaurant we only allowed on week we screened every single person that applied and and we only let people in that we thought had a chance to get funded or were already funded so the funded membership.Who is literally people were like it should be god the unfunded and hours and yet they were getting pretty accurate and meeting reviews and and and when you actually look the data was the entire whatever 15000 person an database now it's in the 20s were all funded entrepreneurs writing very candid reviews about of their investors yeah and you know look it ended i i always knew the funded was a temporary thing you would end the abuses so once you turn light on in a room with a bunch of uh nasty things in it they all scamper away in the ruined clean and they can hide in their little holes in dark corners and then you know you kind of rooms clean turn light off go away the cockroaches everything else come out so unfortunately the light was on for a while a clean the room out uh we sort of like i was literally gonna write mission accomplished in take the funded down and i was like you know that sluggish george bush roman right there then it so nodded cobblers did is to horrific glee embarrassing but i was at one point seriously considering that and and i can tell you right now that the abuses are are resurfacing back in and you know of course they are not the same so you're not getting back then you and have saying called like a participating preferred and it would be a five acts liquidation preference so of an investor put in ten million dollars they would get five acts fifty million dollars back before you got a single dollar and then it was participating sir what would happen is that if you sold a company for sixty million dollars and they owned fifty percent let's say fifty million would go back to them yeah and then you they would get five million from the remaining two and a half of that and you would get the last five edwards is crazy yeah because you you're the one that kinda.At all so let's let's take a quick break after this i wanna talk a little bit more about the founded institute and how will you live from the funded and how that grew into the founder suit so be right back we're here the day arrest the talking about his journey to create a company is all over the world with with the farmers to hobart back okay this is canvassing today if you're enjoying the show than please leave a review in the eye tuned store breaker stitcher guga music wherever you're listening and if you don't do that you can visit ciscar dako slash review and we'll show you how you can leave your review in three quick steps thank you thank you so much for all the help and ambition today is happy to partner with top tall so you have that in your head you just can't shake but you need someone to build it visit top tall dot com slash ambition today for a free twoweek trial with the top three percent of software developers in designers you own other code anything built in the trial and you can get a lot done in two weeks or so in from the team reach out to almost immediately that's t o p t a l dot com slash ambition today to get started today and ambitions it is happy to partner with the founder institute the world's premier launched stage startup accelerator normally during this time i read a little bit about entrepreneurs dna and what it means to have it and the test but we have with us here today a day arrest see so i wanted to quickly 'scudetto near thirty five thousand people have taken this test and as a result of that data we've built on a few personality profiles what can what would have you seen from so many people taking this test and applying to the program and you know.On the journey of entrepeneurship well the test itself predicts very well som traits that are indicative of success in entrepreneurs so if few spend approximately forty five minutes to an hour and fifteen minutes new take a series of what will seemed to be somewhat strange questions i will be able to give you a profile of the kind of entrepreneur that you're going to be and give you a rough estimate of oust successful you're going to be as well so just getting in the programme means that you have crossed a certain threshold where your likelihood of being successful is is fairly high and then we actually have certain things were will say hey you're in the top twenty five percent of test takers or you're very exceptional plus we can categorize you as a visionary type of entrepreneur or a a hustler their different category so what are the top two things you look foreign like entrepreneurs while that's a dna test looks for certain actress jurisdiction then we look for other things on a on a manual review if you will so the task looks for what you'll call openness in and fluid intelligence is the big indicators openness is basically how honestly you perceive the world so if you look around and it's you know cloudy out and you're like movements cloudy and it seems like it's about terrain that's a very you know open and kind of bouillon us perception of what's going on if you're look around his guy cloudy and you're like well you know maybe it will clear up been gearing will be grade and that's the less open per year essentially seeing the world through these rosecolored glasses as there sometimes referred to and the problem with seeing the world to rose.Colored glasses i is that union real as an entrepreneur you really need to see the world for what it is if you think you're machines are running grade near factories doing awesome your expansion is as going as planned in in fact it's not that can be very dangerous similarly fluid intelligence is your ability to rapidly learn and apply rule sets and see if this is really important that so i would say fluid indulgences some way more important than um um and openness but they they interplay with one another so and and some other trades but food intelligence is rapidly learning in implying rule said so i didn't have any problems yet today today is still early aaron powell i'll do but average entrepreneurs seed dozens of problems day their server could go down i'll actually did see a problem we're having an email bug and you know they're like we need of exzema elbowed right now and i'm like well i'm going on abbad gaz let's oregon and a few minutes and it's not it's a logic bugs you have two i'm enough to sit down learn the logic of why the mailbox is occurring work with a developer redo the logic and fix it right then i'll probably go go into a staff meeting right so and then i'm going to be an staff meeting mode and then i to have like a lunch with an investor and be an investor modes your constantly switching mindset from one thing to.Another all the time is an entrepreneur nice i love i think food intelligence and open his play a huge role if you wanna go learn your dna profile a f i'd at coast slash join slash ambition to apply and take the test today let's get back to this episode of ambition today visit hand vision today online and ciscar dawncoe homeless yo on social media hat ambition today welcome back we are here with a day arrest resi we've been talking about his journey through entrepreneurship and influences its had on him over time so you build a several companies realized there was bad players built the funded to help correct that the lights went on it got a little better we know after the funded at feel like there was more takeaways that you kinda parlayed into the founders toot what is the founder and stood for in our refresher for the audience and how did to get started and where is it or is it going yes so i was running the the funded in so so i had sold my last company and been abused by venture gavel is pretty badly in the deal i was the second larger investor in the company and i was the only investor that lost money so uh and and that's not entirely uncommon either by the way for entrepreneurs because uh when the time comes to sell the business uh the investors the become very greedy and difficult to work with soho squeeze you out i had been taking a break in and essentially row running the funded fulltime and.What i what i realized was it's great i'm i'm helping entrepreneurs but really there aren't enough entrepreneurs getting fun dead and so the core problem was entrepreneurs aren't creating fundable companies at scale and also there's there was a lot of isolation in the funding as well so there is like new york was big silicon valley was big at the time boston was big and then europe with like super small and like asia was even smaller and you're looking around and saying you know that there is a bigger problem in the world today and then while i'm sort of examining the fact that funding was super isolated not a lot of companies are getting funded and uh that that's a problem then the the financial collapse happened of two thousand eight and at that point i said i need to do something about this and and so i thought long and hard about how to fix it and essentially might conclusion was uh you just have to start better companies yeah and if you start a lot of really good companies then they'll be more funding more support more innovation all around the world it will not only make the world a better place where you solve a chicken and egg problem so chicken and egg problem that the world has today is if you go to a city that has no entrepreneurs in technology means they were in a great entrepreneurs and technology a lot of times people's it will there's no money there's no infrastructure how are they going to get started.And so then you face a chicken and egg situation well it turns out that we went to lots of places like that like kabul afghanistan or bogus talk colombia of six seven years ago baba wa wa and what happens is once you start creating companies that are good than co working spaces open an angel funds get started and government programs open up to give them money and provide them with tax breaks and then venture funds get started so it all the step one there has to be good companies step to all the infrastructure comes into play so our view at the founder institute is we're going to go at the very beginning rented take someone off the street we're gonna read train them to think act and be think like act like an an and therefore eventually be entrepreneurs and successful ones at that well i love women one of my favorite things about as we think about what you learn from the funded in your own companies right and basically taking founders at such an early stage and teaching them what they need to do things the right way right sit in doing it right from early on saves you all this money balaguer's your preferences down the road right and giving them at access early on because without it i see even even today right in 20 2017 founders they have koren books but they just they canada's meander yeah and jumped corking space current space and and the media every three weeks and they grow a little bit and i just i love that it's such an early stage it really helps people plug in get access to great ceos mentors make the right decisions early on to set them up for early later success.So i know how they do that but for the audience listening woods is the process for found institute at a high level while when you're in the program i presume you're asking yeah so here's what i would say like you can't i don't know why this is by the way kevin so a eu pointed out something that's that's really an interesting observation so um it's very very hard to be an entrepreneur so really what the founder instant does is condition you and you know i got conditioned by the real world a hard way and that's not what i would recommend for most people i mean in the early story i mean part of the reason i wasn't the absolute richest person that i knew uh when i had a build nearly two billion dollars worth of companies by the age of twenty nine is people rip me off in stole my equity like frequently yeah and and i had no idea what i was doing and so at half prior prior to two two thousand eight this like finding this information we had the internet but it was early days and it wasn't as of ala no knew that no one knew anything yeah so you know i liked is a company is a collection of agreements but it's also a collapse a large collection of people who are trying to screw you at every possible return and mark my words you know if there is a dollar in your pocket there's a hundred people waiting to take it out of it and when you are an entrepreneur a lot of people perceive that you have lots of dollars in your pocket so they now that's gotten a lot better but back then it was just brutal so so what we do is we condition you first success without actually going in having people take money out of your pocket or be you the stick or whatever else they do so so for example we have the sessions once a week at night and and these season ceos come in and they talk to you about their experience is building in business now there that's not the you don't learn like accounting right you learn how a ceo thinks about it.Counting rain that's really a big difference right sure you learn some basic accounting thing john's total year more learning the mindset of us of someone who is building a fast growing business and that's your conditioning your mind to think like a successful ceo then we give you work to do to build your business now this is like and you do that for the remainder of the week and these are hard things like you at you're you're doing probably twelve months of a normal entrepreneurs work in about three and a half months but we sequence it out we give you time we give you resources and we're like just keep pounding at it takes about thirty hours weeks you're not even fulltime on it and that is important because it's it's like pushing you to move quickly one of the big problems and entrepreneurs have is i'm a marketing guy i like marketing so what am i going to do marketing who want a you need to do do the laws of other things like bright code or like higher people you probably need to do as more hiring than marketing in fact you probably need a higher marketing person and so by forcing people through the week to do lots and lots of things that they don't wanna do they don't want to do and they don't know what they don't know right and so that that's a huge part of a two if the sometimes finders can think they're so set and they're like the ready to fundraise and hit that series be basically at a starting out of the starting gate right.There's big three round rounds founder found in the program and my program right now who went to an event and is you know he don't get me wrong very smart talented guy and he's trying to pitch like steve dzerve it's in some famous v c s and he's not even raised in angel round yeah and it's not that i'm saying listen that does happen occasionally that happens but that is set by that's like that's like joe if you're i like to say hope is not a strategy and mike this is like the lot lottery tickets are not a strategy either if you're counting on paying year round by playing the lottery i in who you're in trouble so the you know don't make lottery tickets you're strategy so so so back to the final in third thing is we break everyone into groups and they sort of coal miserey along the way and what that does is so one of the most important things you can have is of founders is support network shoulder to cry on when things get tough because they get tough like daily totally and it's like now in a crying zone shoulder every day but you know they're peaks and troughs in some peaks are big in some trouser big and when you're in a big trough you better believe than having so in that you can talk to you is a is a mission critical to your success and do this.Process of the mentorship the this simonsen the and the peers that's essentially conditioning you to think act and have a network of an entrepreneur allowing you to succeed later on and andrea one of my favorite things as is how we support grads post graduation to we don't just kinda dumped them after accelerator we support them longterm with dried i i love so i we i wish ended the sad thing is you know and this is a problem for every programme but we're we're actually probably now i used to say we were 6 out of 10 and now i think we're probably like an 8 or 9 outta tat maybe an eight out of ten when's it's like graduating from kindergarten how close to keep in touch with your kindergarten teacher not not how a so we are the kindergarten of entrepreneurship maybe the you know maybe first grade saying like that but but what we do is a little bit different now than almost any other program is we really do have levels of engagement with our graduates so we have pretty close connections with companies that that are worth hundreds of millions and billions of dollars and we're doing things now where we want it we're going to have even closer connections with those companies while at an end and that some minutes you know i've item on grad from years ago to is that something that i it is kinda dear to me so as director in new york i put a lot of effort into that 100 53 portfolio companies in new york now and they all help each other which is kind of amazing so i know we have probably a few founders to grads from new york other cities listening right now what's one piece of advice who have four.F i grads entrepreneurs a little further down the journey while uh there's a lot of pieces of advice it depends on how far the journey that you go down the road so you know there's i would say if you're a little further down their journey so may be your companies anywhere from nine to eighteen months old maybe 24 months old there's a lot of on shiny things in the sand that look very appealing to you and may be a cause for you to think about pivoting or adjusting the business model or even you know going after them like all almost a lottery ticket i can tell you that uh most of the shiny things in the sand or not diamonds their knives wading me kill you so you got to be very very very diligent to remain focused on your core mission in that in that you know nine day eighteen may be twenty four month window because your company's gaining a little bit of momentum and there are lots of pretty things all around you and they're very appealing gray right so much money of i just did these four things and it's like no no no so part of the reason why the founder institutes in almost all a group approaching two hundred cities and will create that twelve thousand grads a year now probably closer to two is because we've we've been laser focused on one thing the entire history of the company we really never done anything else and that's all we do and you look at some other and and and i'm gonna tell you say i look around the founder institute and i'm like yeah we could do this better and we could do that better but at the end of the day were all do it's the it's one thing that were doing and their components of it that i think we could do better but imagine if we were doing like five things right then there'd be hundreds of things that we could do better in each of the five major areas but since our whole history we've been doing one day now doing one.Thing while is complicated we've got the admissions test i think we could be doing that better we've got the program you know the website there's that all the stuff and we're making improvements on everything but just doing one thing in his volume hours set there's like a you know we had just just to give you a sense we have about twenty people in our hq about five hundred directors and nine thousand two hundred metres while just to do that one thing yeah right so like the aim doing one thing isn't easy as opponent to deepen out wide totally and stay focused so one of the things that i know we announced recently that i wanted to talk about obviously that the whole vc spaces shifting mobile has peaked a little bit you recently announced i think this week this a star the star fellow initiative can you talk a little bit about that real quick sure so one of the things we want us are doing it founder institute again and it's related to the one thing that we do is inspire professionals in a in a vertical categories to launch businesses so you could almost look at it like generally speaking the veterans is he says if you're thinking of starting a business whatever industry urine come on in and we'll help you so now we're starting to go a little bit more directed and say okay if you're thinking this start a space or spacerelated business com applied of the founder institute will give you a free course fee if you get accepted in getting accept it is not easy and then we're going to provide you with some specialized mentors who.Who work in the entrepreneurial space field as well as introductions two key partners including funding partners like draper fisher when you graduate and are ready and the idea there that's amazing yeah well the idea there is that like there's an who and we'll do other verticals in the future we we started with space because it's it's it will be in we have zero graduates working in space in spacerelated company so it's very easy to measure the effect like we have almost three thousand companies that have graduated from the founder institute and in almost any other vertical that we would do their lots of grads so it's it's hard to say like what's the net effect was in natural growth or easy to measure here this will be larry easy to measure i love it and i and i'm excited i think you know though you're wearing a space exim one i have ice x hat right over there i had my collection of nerdy startups patsy on my space x had my test lahat aren't anyway so i love it so i wanna jump real quick to the ambition today question of the day if you want to hear your question on future episodes you can hit me up on twitter at the ciscar or go to our website and dropped the question so actually i crowd source to this question from our team so i've been on the office the last few days and i've been asking what what is ever and want to know from a day o how and so.Some of them already knew the answer but they said it was a great question and an ice and i should get your answer on air so what is the end game for foundered sotoudeh and all your life's work where do you see this in the world going in the next twenty thirty forty fifty years well i like the fact that you said twenty thirty forty fifty years said i think that that's that's the timescale that i'm that i'm hoping to operate in right and so the i think if you ask an average start up for the governing 2030 thirty of your big deers are like with doggy like dog food social media app or something like that i have an idea so so i i i actually believe i want the founder institute to be around in one hundred years and that's actually a very challenging goal to do because you really need to have a um a different kind of mindset when building the organization if you're you're thinking in the the 100year timescale right so uh a lot of companies today are bill to go public uh and there bill to uh or sal right which we talked about earlier in the bond guest without i'm trying to do is think about how can how can we create a structure that persists for a long time and you know there's so they're structural components the founder institute to set it up to exist for a long time and then you know there's been a bit of a call to personality around me which of china rachid down a little bit so that we can have other uh a leaders it within the founder institute does take it ford for years and years and years and we've also been doing things like testing setting up uh in lake almost like fi clones in china so that we can see if our model can be ron.On independently without us in it and it's going okay and we're learning from those experiments so suited to be very precise on your answer where i'd like to see us in let's say a hundred years now twenty forty or or or an interim to that is i like to see us as um a best practices institution for entrepreneurship in the world today really taking the people who are best suited to be entrepreneurs in the world for whatever reason and and giving them a very very uh uh easy path to create their vision uh with the greatest amount of success possible and because we've had such an important role we have such a large on i guess you could call it an endowment if you will that will be able to do you know greater amounts of thown research on into that area greater amounts of of uh support and and really be the gold standard for for for people that i wanna start a business pretty much anywhere in the world i do think by the way there is a a a size of of city where we can operate in threshold i'm not sure where it is but my based on our experiments today my belief it's probably like two hundred thousand four hundred thousand people range so i'd also like to spin that 100year timescale that every you know thriving ecosystem with a few hundred thousand people and and we'll have chapters as well i can't wait bad isn't uh so we will have you back on the podcast near thirty seventeen islet ii well if you're still listening i want to thank you for uh for listening being with us today the show notes which include everything we talked about are up on my website ciscar dako if you love this episode shared on facebook breakers tweet me or a day with your favorite quote and what we will respond if you love ambitions they think about during the show's backchannel at twelve exclusive access reserved for the best fan.The show which is why i'm only mentioning at the end thank you for listening it'd be one of our fans a day thank you thank you for coming on the pod today working people find out more about you or founded too at a day or razzie or f i dot c o f i dot ceo is a day or se dot com is well i'm pretty pretty easy to find i know you're pretty active on twitter too so check it triggered a day on twitter stay curious everyone and i will see you all on the next episode of ambition today thanks for listening to and vincent today visit ciscar dot com all we information from this episode and more great content until next on a stage curious everyone.

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